Silver Bullet Mines Continues to Assay for High-Grade Gold and PGMs

October 18, 2022 8:00 AM EDT | Source: Silver Bullet Mines Corp.

Burlington, Ontario--(Newsfile Corp. - October 18, 2022) - On September 26, 2022, Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate.

To help identify with greater precision the location of the source of the platinum, palladium, rhodium, osmium and gold, SBMI recently took samples directly from locations around the Buckeye Silver Mine and the Company's mill site, including from crushed material, directly from the vein, from diabase samples from the wall rock and from tailings from the run of lower grade material. The location from which those samples were taken and their assay results are below:

Assay Results are in Grams per Tonne

Sample ID Au Pd Pt Rh Ir Ru Os

Diabase 114.323.70.2460.1930.151 nd0.415

222.318.90.1720.076 nd nd0.333

38.1715.90.0930.083 nd nd nd

422.318.20.0970.072 nd nd nd

Crushed ore 115.19.07 nd0.157 nd0.9490.08 nd0.7310.063


416.216.40.1270.1180.083 nd0.097


626.617.90.1270.0850.08 nd nd

725.512.10.0850.052 nd0.265 nd

823.913.70.1060.069 nd nd nd

Head ore118.813.50.0930.062 nd nd nd

221.911.70.06 nd nd0.218 nd

337.2160.105 nd nd0.137 nd

430.613.60.07 nd nd0.306 nd

522.9120.07 nd nd0.306 nd

624.310.40.061 nd nd0.251 nd

Tailings118.512.20.0790.064 nd0.211 nd

219.911.50.0630.068 nd0.272 nd

328.816.50.091 nd nd0.174 nd

426.816.20.0850.104 nd nd nd

537.116.90.1020.083 nd nd nd

631.817.20.0930.051 nd nd nd


Samples from all locations above were taken to be as representative of the local mineralized material as possible. Samples taken from the crushed ore are by their nature representative of the source mineralized material.

In management's opinion, this round of results provides further strong evidence for the conclusion that the Buckeye Silver Mine may host economic amounts of platinum, rhodium, palladium, osmium and gold, in addition to the original silver targets. Management has engaged third party engineers, metallurgists and geologists to assist in creating a new process flow sheet and in determining the nature of the mineralized material at the Buckeye Silver Mine. Without effecting selective disclosure, management has also had positive preliminary discussions with potential financiers, pending the delivery of the flow sheet and a rough budget.


For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2022, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks.

Readers are cautioned that although management has made every reasonable effort to ensure the samples are as representative of the local mineralized material as possible, the samples above (apart from the crushed ore samples) are ultimately random by nature and may not be representative of the mineralization throughout the Buckeye Silver Mine.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI's work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; the presence and quantity of minerals in the Company's properties; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

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